Full Form of ICICI | ICICI Full Form | What is ICICI | About ICICI
Full Form of ICICI is Industrial Credit and Investment Corporation of India: It was the parent company of ICICI Bank which was incorporated into ICICI Bank in 2002. After the merger, ICICI became ICICI Bank so it’s currently referred to as ICICI Bank. It’s headquartered in Mumbai, Maharashtra, India and is operating in seventeen countries around the world. As of 2014, it was the second largest bank in India in terms of assets. The bank offers a large range of banking product and services to its company and retail customers.
ICICI Bank stands for Industrial Credit and Investment Corporation of Republic of India, is an Indian transnational banking and monetary services company headquartered in Bombay, Maharashtra, India, with its registered workplace in Vadodara. In 2017, it’s the third largest bank in Republic of India in terms of assets and third in term of capitalisation. It offers a large vary of banking merchandise and money services for company and retail customers through a spread of delivery channels and specialised subsidiaries within the areas of investment banking, life, non-life insurance, capitaland plus management. The bank contains a huge network of 4,850 branches and 14,404 ATMs in Republic of India, and contains a presence in nineteen countries as well as Republic of India. Full Form of ICICI…..
The bank has subsidiaries within the uk and Canada; branches in u. s., Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China and South Africa; and representative offices in United Arab Emirates, Bangladesh, Malaya and state. The company’s Britain subsidiary has conjointly established branches in Belgium and European country.
ICICI’s holding in ICICI Bank was reduced to forty six %, through a public giving of shares in Republic of India in 1998, followed by an equity giving within the sort of American Depositary Receipts on the NYSE in 2000. ICICI Bank nonheritable the Bank of Madura restricted in an all-stock deal in 2001 and sold further stakes to institutional investors throughout 2001-02.
In the Nineteen Nineties, ICICI reworked its business from a development institution giving solely project finance to a heterogeneous money services group, giving a large sort of merchandise and services, each directly and thru variety of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI became 1st|the primary} Indian company and therefore the first bank or institution from non-Japan Asia to be listed on the NYSE.
In 1955, Industrial Credit and Investment Corporation of India (ICICI) was founded.
In 1994, ICICI entered the banking industry by establishing ICICI bank limited as its banking subsidiary.
In 1998, ICICI bank became the primary bank to launch net banking in India.
In 200, it became the first Indian bank listed on the new york stock exchange.
In 2001, ICICI acquired Bank of Madura that was established on 1943.
In 2002, directors of ICICI and ICICI Bank approved the reverse merger of ICICI (parent company) into ICICI Bank (subsidiary).
It conjointly established representative offices in Shanghai and Dubai.
In 2004, it opened a workplace in Bangladesh the extensive banking market in Bangladesh and South Africa.
In 2005, ICICI Bank nonheritable Investitsionno-Kreditny Bank (IKB), a Russian bank and renamed it ICICI Bank Eurasia. During this year, it conjointly established a branch in Dubai and Hong Kong.
In 2006, it established a branch in Antwerpen, Belgium and representative offices in Bangkok, Jakarta, and Kuala Lumpur.
In 2007, it acquired the Sangli Bank that has 158 branches in Maharashtra and thirty-one branched in Karnataka.
In 2008, with the permission of us central bank, it converted its new york office into a branch of ICICI bank. During this year, it conjointly opened a branch in Frankfurt.
In 2013, it became the primary personal sector bank to launch mobile branch with ATM in Maharashtra.